it is frustrating to see the price fall from the opening high. You have to uderstand that there is a huge short position that doesn;t want this stock to go up. I posted earlier that nearly 400K shares this morning had been shorted already today. The advise you are getting here is correct. With IOC you simply can't time the top or the bottom in any given range. I am holding, holding, holding, holding, then holding some more. The payoff is the deal. Look at recent history at these types of days. The shorts throw the kitchen sink at it and it creates a cycle triggering stop losses, etc. Today's news about Exxon is outstanding, and we will recover the pps but the deal is what we are wall waiting for. Remember that IOC is now in FINAL NEGOTIATIONS with the biggest company in the entire world. We could have an announcement any day. My opinion is that this may be an attempt to contain the stock price for a buyout attempt by you know who. Hang in there. I've seen this before.
As Rockport says, Stay thirsty and hang tough!
Good luck longs
I think your rationale that it's the shorts holding the price down is a little off. This is longs liquidating based on some issues brought up by the press release about the size of the field and its ultimate cash flow characteristics to IOC. XOM is telling the market it doesn't believe the size of the filed based on the following.
1) InterOil and Pacific LNG will be funded to drill additional delineation wells in the Elk and Antelope fields, which will be followed by recertification of the resource.
2) Only committed to one train to start.
3) IOC selling gas to the exisitng facility, while expediting cash flows, does not allow IOC to capture a significant portion of the upside of the LNG process.
Gerald, you have to decide if you are a long term investor or a short term trader..;or take a core position and trade around it. The only reason to sell is if you have a more compelling investment elsewhere.
and..the beta on this stock is 1.23..it's gonna move both ways.
so, take it easy..you're never gonna get out at the top and you are never going to buy at the bottom. No offense but, your whining about incremental moves is getting long in the tooth.